Note: Never move funds to or from the DO NOT TOUCH cards in Uphold. If you do, you must contact Heleum Support to reactivate activity on your account.

Why can't residents of New York use Heleum?

New York requires companies who trade in cryptocurrencies to apply and qualify for a "Bitlicense". Wikipedia has more details here.

Uphold, the platform used by Heleum, has released this statement on their application for a Bitlicense:

Uphold has been working with the Financial regulators at the Department of Financial Services (DFS) in the State of New York to obtain a BitLicense, which is required of all digital-currency businesses dealing in cryptocurrencies. As one of the earliest companies to submit for a BitLicense, we progressed through the application process and our understanding was Uphold could allow residents of New York to transact in cryptocurrency while waiting for the license to be granted.

State licensing rules change quite often and we were instructed by the DFS of a change to their process. This change requires Uphold to temporarily stop all cryptocurrency activity for Uphold members in the state of New York until the license application process completes.

We apologize for the inconvenience, and kindly ask for your cooperation.

During this time, members within the state of New York will be unable to hold, move, convert, receive, send, buy or sell cryptocurrency within Uphold. We anticipate this disruption to be short-term as we continue to work closely with the DFS throughout the licensing process. We apologize again for any inconvenience it may cause.

Until Uphold has secured their Bitlicense from the regulators in New York, residents will not be able to use Heleum, unless they can legally secure identification from another state. At which time this changes, Heleum will make an announcement.

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  • 21-Nov-2017
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